The Vacation Rental Key with T and T
This is a podcast for professional vacation rental managers. Whether you manage 5 properties or 500 properties you can gain insight on how to run a successful vacation rental business by listening to T and T give their Keys to being the best.
The Vacation Rental Key with T and T
Episode 7: Defining Excellence: The Six Pillars of Vacation Rental Professionalism
You're listening to the Vacation Rental Key with T&T, the podcast for vacation rental managers by vacation rental managers. I'm Tim Cafferty and I manage two companies, one in Virginia and one in North Carolina. I'm one of the two T's.
Tiffany Edwards:And I'm the other, T Tiffany Edwards, born and raised in the vacation rental business. I help manage our family businesses from Key West all the way to Kauai.
Tim Cafferty:In the next 30 minutes, we're going to give you our keys to success in the vacation rental business.
Tiffany Edwards:Welcome back, guys. We're so excited to really get into it today with a question that has been plaguing the industry for years, and Tim and I have taken some time to really dive into what it is to be a professional in the vacation rental industry.
Tim Cafferty:Yep, we're giving away more nuggets on the vacation rental key, the keys to professionalism. Today, you look it up in the dictionary. It says the competence or skill expected of a professional. Hmm, pretty good. What does that mean? Well, we've got six points for you today. We like to give you points to take away, and I think we nailed it.
Tiffany Edwards:I just have to say Starting out with a professional, because, tim, I'm sure you've had this conversation within your community, but then, on a larger scale of industry, there's so much to think about what is professional From inside your business? Are you professional? Externally, within the community, are you viewed as a professional? Externally, within the community, are you viewed as a professional? And then, from an owner perspective, are you professional? And then from a guest perspective, how do they view you as professional? So these six tips cover all of that.
Tiffany Edwards:But you know, tim, this was a conversation that we spoke about back in VRMA in around 2019.
Tiffany Edwards:So this was one of the first projects we had for the advocacy fund During that time.
Tiffany Edwards:I think what precipitated that conversation was the growth of social media and Instagram and these influencers who came in who said oh, let me show you how to make millions of dollars by having a short-term rental, and it's so easy and you don't even have to live nearby. And there was a massive increase of short-term rentals in areas and in neighborhoods, and so this conversation of what is a professional really came to the forefront. And so at the VRMA, through the Advocacy Fund, we commissioned a study with a crisis specialist and strategic communication specialist to really identify what a professional is, more so of how an individual within the industry could claim a professionalism. And what they came back with was you had to be a taxpaying business. You had to pay consistently your taxes sales tax, tourism tax, whatever was required of you, and that licensing aspect you had to be local. That's something we'll touch on a little bit more of our key takeaways. And then you had to be consistent in high standards, and so we'll talk through a little bit more of that, but that really became the narrative.
Tiffany Edwards:And so we'll talk through a little bit more of that, but that really became the narrative, and today we're going to go through the six that are more specific is something you can't say about yourself. I am very professional, look at me. No, it's how you comport yourself, and so that's what many of those people who will say that, but that's not what you necessarily want to exude. So great point. Let's go ahead and get in with what I think is the absolute most important sign of professionalism, and that is community responsibility.
Tiffany Edwards:So one of the things and obviously in my background of advocacy and having conversations with local officials, you always want to identify the things that you are doing in community responsibility, and so what that looks like is how are you providing solutions and ensuring lower impacts of nuisance, concerns and issues so noise, trash, parking Are you communicating that with your guests? Are you monitoring those items? Are you creating accountability so that if any of your guests have impacts of noise, trash or parking, are you handling that? That goes a long way and it is definitely noticed within the community and helps you be a better steward. The other part is supporting sustainable tourism. So are you packing your houses? Are you creating massive we don't like the term discount, but lower pricing within the area. That changes what the dynamic and average daily rate is and maybe lowering some of those standards just to fill in as much as you can. That creates a lot more issue for the community as well.
Tim Cafferty:And I would also say you have taught me the engagement with local officials, making sure you know somebody in the city hall that you can call on, or even more than locally in the city, hall that you can call on or even more than locally, maybe on your state level or even nationally. When there's an issue, do you speak up and make sure those regulations compliance, partnership things are developed in any way that you can.
Tiffany Edwards:Yeah, and again, you know, going back to your point of saying I'm professional, it's more so about demonstrating how you are a good community steward and how you're willing to make some compromises. I've seen time and time again more so in the last year of community saying I'm not willing to budge on X, y, z, showing your professionalism by showing some compromises. Because you want to keep that character of community and you want to protect the community and protect the tourism in your area. You've got to come with some compromises and I think that really elevates what your professionalism is in the community.
Tim Cafferty:Another thing not on our list that comes to mind for me on community responsibility is we have yet to, on this podcast, get into one of my pet subjects and that's budgeting. But on your budget do you have a line item for charitable contributions to local community activities? I do and frankly, I get calls every week to sponsor and help with something. But that helps as well. Being there, investing your time, investing your employees' time in these local community functions helps a great deal on your awareness, quite frankly, in the community.
Tiffany Edwards:That's so important. I actually just had a conversation with Ben about this yesterday because I've started noticing in one of our companies that we're doing a lot of that community engagement, but it happens to be in an area that is really heavily regulated, so we look at it as a cost of business line item, of business to business interaction. We're not necessarily going to be doing business development there, we're not bringing in guests from it, but we are helping support the chamber, we're helping support other local businesses and we're really showing that we're a good steward there. That's such a smart, important, key takeaway, to add. Tim.
Tim Cafferty:Absolutely so. Community responsibility is our number one takeaway on professionalism. Number two you have as operational standards I might restate that and say efficient operations and management of your company. What thoughts do you have there, tiff?
Tiffany Edwards:I think it's really understanding and utilizing systems for consistency. So, checklists I know in several of the podcasts before we talked about processes but understanding those processes and those efficiencies Are you doing inspections for your properties? Are you hiring and managing qualified vendors and service providers? And if they are not qualified, then are you getting rid of them quickly and not allowing too many graces, because that is a very high standard that you need to set for your level of professionalism? And then maintaining adequate safety standards, emergency preparedness I know we've talked about that before, but those are all processes you need to understand and have in place, because there will always be something that comes up and you need to fall back to what your process is for those operational and you may want to touch a little bit more on the importance of that efficiency- Absolutely.
Tim Cafferty:I think it goes even deeper. Do you have dynamic pricing strategies? Let's face it, we're in a market right now that we have not seen in some time, if ever, and you need to have those market analytics and those data-driven insights to optimize pricing for your properties, to maximize that revenue and the occupancy, and adjusting those rates properly, not just setting it and forget it. It's a hundred dollars a night, every day, no. And then the marketing and distribution. Do you have professionally photographed properties? Do you have that listing optimization on those top platforms like Verbo or Airbnb or Bookingcom? And those compelling descriptions?
Tim Cafferty:Sarah and I, on a previous podcast, would make fun of some of the descriptions we would see. Have you looked at that and make sure it is professional and representing you properly? And then, one of my favorites I can't remember the last time I had a double booking, but making sure your software is foolproof on any sort of a situation where you would be embarrassed to have two people showing up the same day for the same property. That's really important. And we can get into it further with maintenance and housekeeping protocols and just leveraging that technology, as you were saying before, to make sure that you have a centralized reservation system. You have automated communications, you have owner portals for your business partners and, of course, the financial reporting to enhance the efficiency and the credibility of your company.
Tiffany Edwards:Yeah, that financial component is really, really important to make sure that you have the right people in place for that and then also that your software is providing the accurate accounting. That probably shouldn't have to say that, but need to say that.
Tim Cafferty:No judgment here. No judgment, just suggesting that maybe you won't.
Tiffany Edwards:Yeah, and you know, Tim, going back to when we look at revenue management, I remember a time where it was set it. Forget it. I mean, I grew up in the industry where we sent out printed booklets that had our rates on there and those were our brochures, and you called and that was your rate and we didn't change it. And my how we have changed with our revenue management system and really making sure that you have someone manage that whole process is so important.
Tim Cafferty:Yeah, and maybe not just one person. Maybe it's a team meeting on a regular basis to call attention to particular properties that are underperforming. Do you know which properties are underperforming and why are they doing that, and are you communicating to your property owners on that, which we'll get into in a moment? So the number two item on our list of six would be efficient operations and management standards.
Tiffany Edwards:We have one of those calls weekly for every single one of our businesses to look to see where we're doing reporting and tracking and then also to see what our marketing is doing. And have we received anything as a response to that? And, more specifically, what units are down and which ones are up and why? Okay, number three, really important legal and ethical compliance. We've seen a rise of permitting, registration, licensing fees, different operations, requirements that a county or city or state has put in place. Who's monitoring that and making sure that all of your properties registered and are compliant? There's obviously a major consideration of losing some of those permits which we didn't have before. So there's a lot more on the line and really that needs to be a focus to make sure that you are licensed in whatever requirement you have, from a state to a local level, for all of your properties.
Tim Cafferty:Yeah, In Virginia Beach I've shared this with you guys before that they have an ordinance there called the short-term rental ordinance which, quite frankly, if it were left to my property owners to comply with that, it would be chaos. We had to step in, we had to take charge. So that short-term rental ordinance, amongst other things, requires things like a parking plan for every property, an annual deck inspection by a certified engineer annually, of course, payment of a fee to the city and these stupid signs we have to put on the property that says this is a short-term rental property.
Tim Cafferty:It is the ugliest thing to have. It's black lettering on a white side. We're working with them on trying to make it a little prettier, but there's a phone number. If you see a violation, please call this number and then we have to be able to respond and be on site within 30 minutes. And then we have to be able to respond and be on site within 30 minutes. That took three years of machinations back and forth between the professional property managers and the city before we arrived at that. And quick sidelight there, that phone number. Last year 93% of the calls were is this house available for August the 1st?
Tiffany Edwards:I actually love when I go into negotiations, I push with local officials. I push for a local phone number on a sign. I think it is a great tactic. The real estate industry has already made sure that the consumer knows to call for a number if it's available for a listing, so why not do the same thing for vacation rental? And we've actually been able to talk through with local officials. That number is called for a problem, we can address it way quicker than if it was a 24-hour hotline because we know who's in there and most of us are local to be able to go in there and take care of that issue.
Tiffany Edwards:You know that printing process. You really have to read through all the ordinances to understand exactly. When you talk about signs, we had in Walton County where it wasn't expressly written out but had to have exit signs up above the doors, similar to hotels. Then they went back and said well, no, no, no, that's not necessarily what you had to do, so the cost associated to go back and forth. We're in the middle of our permitting in Hawaii and you had to do so the cost associated to go back and forth. We're in the middle of our permitting in Hawaii and you have to take pictures of all of the property to send in. I mean, so you have to stay on top. But I do think you're right on that. It can't just be assigned to some property manager. It is extremely intense and there is a lot that you have to fill out and you still have to have some owner engagement for a lot of it too. I do.
Tim Cafferty:Actually, the ordinance says it is the property owner's responsibility to do all of this, but we know how that's going to go. It's a great opportunity for you to step up and say I'm the professional, I will handle this for you.
Tim Cafferty:The other thing I would mention. You certainly know a lot about Florida and we hear a lot about maybe, financial management under legal issues like money disappearing from the operating account, depending on your state, this also could be a legal compliance issue of how you handle rental income, the expenses and providing those accurate financial reports to the owners on a regular basis.
Tiffany Edwards:And I think we've touched on this before, but it's really important to know that that money is not your money. That is the owner's money. So while it looks shiny and available in a downtime, it's not your money, and we've known people who have gone to jail for that. So if you're located in a state that there's not a barrier to entry or doesn't have to require some type of escrow or under a real estate brokerage, really be aware of that. That's very serious and, I think, very basic professionalism practices.
Tim Cafferty:Okay, we're doing well on our time. We're halfway through our list of six as we move on to item number four, on our six items for you to look at to make sure you're as professional as you possibly can be, and we would pivot to say, guest experience excellence. How you handle that really says a lot about the industry views of professionalism and the guest experience. What do you think about that?
Tiffany Edwards:Yeah, I think that's so important. That goes back to how a guest really views you as a professional, and we know that in terms of a guest life cycle, it's so important from every aspect to deliver and there are so many softwares and access to information or to processes that can help and automate some of those. We use Breezeway a lot to help with clear lines of communication once a guest is checked in and in the home. But you also need to provide very clear communication on the front end at booking time Really understand what the home looks like. Really understand if the pictures that they're seeing is exactly what they're going to get when they arrive. When they get in and check in, what is the process going to look like so they're aware of the check-in time? These are all proactive communications that you need to set up for your guest expectation and then, once they check in, how are you communicating with them so that it's not a bother but it is a personalized relationship, building up that timely communication and trust from property manager to a guest.
Tim Cafferty:So that prompt, clear and consistent communication with the guests, from inquiry to post-stay follow-up. So that includes a check-in and check-out instructions, the house rules. And then, for God's sakes, when you get a response about an issue, make sure you are readily available to address those issues and not just say we're glad you had a nice day. Go along. The second one under the exceptional guest experience we can't ignore this. It is an issue in our industry and that is immaculate properties is how I would phrase that. Raise that Ensuring every property is spotlessly clean, well-maintained and fully stocked with those essential amenities like lindens, toiletries, kitchenware, the toaster works, the refrigerator works and, of course, the regular deep cleaning and maintenance checks are critical in this process.
Tiffany Edwards:Tim, I think that's really important too, that even if you have inventory that's a little dated or you have owners that are not willing to upgrade, those properties need to be highlighted and starred because they have to be some of your cleanest of cleanest, because if they don't look like the picture or if a guest comes in and they weren't exactly what they were expecting, just from that dated perspective, you really need to make sure you wow them with how clean it is.
Tiffany Edwards:Quick story COVID provided us a lot of opportunity here. So in my mom's business she moved almost all of her linens to white linens so when they walk in it is as clean and crisp. But it also created a better efficiency and processes for her laundry, so she didn't have all kinds of different linens tracking them down. So overall that really helped. But I think that that's extremely important. There's nothing worse, and all of us probably listening have maybe gone into a property that wasn't the cleanest, but it's a terrible way to set off. And that is number one a way to show your professionalism right out of the gate.
Tim Cafferty:We went to what we are calling blue standard bedding a couple of years ago. What a difference that's made. Every bed looks the same. It's got the little skirt at the end, we have lumbar pillows, we have the white duvet. It is remarkable how people look at that and positively respond. It's as though they're walking into a hotel room, which is, quite frankly what they're used to, instead of the Laura Ashley printed comforter from wherever and every room is different, and I just think that's something we can all take responsibility for and improve our position very quickly.
Tiffany Edwards:Yeah, and Tim, one more thing I was thinking about for that too. So in terms of any maintenance because maintenance, I think, goes a little hand in hand in terms of that guest expectation, making sure that your staff is well aware that they need to have proactive communication. So, however you may notify in the system so that anyone on your team can call a guest to say, hey, the refrigerator door handle is a little loose, but we're going to have someone be there in 24 hours to help fix that. Guests are fine if you proactively communicate, but if they find it on their own, that immediately dings you from that sense of professionalism.
Tim Cafferty:Yes, I would also state as well the condition that that person shows up when they do a maintenance check. Do you have a standard appearance for your people? Do you have a company issued shirt? Do you have name tags? Do you have business cards? Do you have logoed vehicles? Or does the guy show up in a pair of cutoff shorts and a t-shirt holding a cup of coffee, going, hey, I'm here to fix your dishwasher. They're the face of your company. You can get into that more later, but that's the impression that's left with your guests.
Tiffany Edwards:That's a really important note, especially when you're hiring some of these maintenance technicians, because they'll spend more time with your guests than sometimes you will, and so knowing what that personality is like and can they just go in somewhere and be a great representative of hospitality. We've also started doing cards, too, maintenance technician cards, where it'll say sorry, I missed you, I was here between this time on this date and has our phone number. So even though we've told them that we're coming in, they've seen as well that the card is there and something has been fixed. Here's. You know my name and number if you need anything.
Tim Cafferty:And we shouldn't leave this category without touching on something you mentioned earlier but is critically important to the guest, and that is the safety of your properties. We talk about maintenance checks and making sure the house is well maintained. Is that railing loose? Are those stairs properly installed? Do your smoke detectors work? When's the last time you checked the smoke detectors? It's important folks Don't overlook that.
Tiffany Edwards:Yeah, one of the other things too that I think a lot of times we forget is do all of your doors locked? Sliding glass door? Does it close all the way? Some of those things are those in your inspection reports and notes so that people can check. There's a lot associated with safety, so if you are not well-versed in it, there are great programs Breezeway has one but definitely be aware of what those safety checks are.
Tim Cafferty:That's number four, the guest experience. Part of it. As we move to our fifth, maybe the most important one, they're all important, but how about owner and stakeholder accountability, the relationship you develop and maintain with your property owners? How about that, tiff?
Tiffany Edwards:Yeah, I think that's so important and, in fact, this might be the most.
Tiffany Edwards:Now that I'm thinking about, this might be one of the number one, even though I keep going to each one I say, oh, that one's so good, but I think you've touched on this on almost every category. And the transparent reporting making sure that you're paying owners timely, making sure that they know what is on their owner. Monthly reports are accurate. You have someone looking through those, making sure that that property is cared for. Anytime an owner comes in, you need to make sure that any individual from your team or a specific individual has gone and walked that property to that owner's specificity. The other thing is if the owner has specific things that they want and how they want it. Do you have that noted? Can you take care of that each time and really having continued ongoing information provided to the owner, so educating them what does the market look like? You are the best in the area to let them know what's going on and you're constantly letting them know about ongoing education and practices and trends for the industry.
Tim Cafferty:I've got my notes on this owner relations and I would also call it transparency I can hear your husband Ben's sessions in the back of my head. Clear agreements having a well-defined written agreement outlining all the responsibilities, fees and expectations for both parties. Regular communication, reporting, as you mentioned. Making sure you provide those owners with regular updates on their property's performance, the occupancy rate, the income, where they may miss missing opportunities. But I think one of the most important thing is being honest and upfront about all aspects of the management, including the financial dealings, property condition, any changes that they may need to make.
Tim Cafferty:I had a rental manager years ago, patrick Parker, god rest his soul. He passed away last year. We would have a new owner recruiter for lack of a better word who would bring the properties on board and the owner would be in the office and he'd barge in and he'd go. Let me tell you how it really works. Forget all this fluffy stuff about the sales aspect. I'm the one you're going to deal with on a daily basis, sort of like the sales agent at the car dealership. You never hear from that guy when you need maintenance, right, and so that rental manager or whatever you call that owner relations person having that opportunity to get in front of your owner and say this is how we conduct business, and then, of course, making sure you understand what the aspirations are of that property owner. What are their specific needs and goals for their properties. You've mentioned that in previous episodes. It's really important if you can tailor your management to respond to the needs of your property owner, that goes a long way to that owner relation.
Tiffany Edwards:And you know, adding into that too, tim, from the beginning of the relationship, letting them know, too, if they've come on with you on your program, letting them know that it may take some time to build up some reservations, and what you're doing marketing-wise, but really giving them a full landscape of what their own life cycle is. And you know, when we have our going back to our weekly meetings for the marketing, we have those meetings and we see that some of our homes are down compared to last year. How are we transparent and communicating with those owners and then providing them a solution? So a lot of times, it's really making sure that your staff, that you know how to communicate, so that it's solution-based.
Tiffany Edwards:Yes, here's a problem, but I'm showing you all these solutions and this is how we're going to work together. And I would say don't stray away from a conversation, and economic times are different. We're expecting some of these things. This is why we're reinvesting in marketing. This is why we're reinvesting in showcasing your property. We're creating efficiencies in maintenance and property care. Having those conversations are extremely important.
Tim Cafferty:Yeah, I think you would agree with me on two things here. Number one there is a life cycle to a property owner and I've told the story before I'll tell it again. I remember I was on site when this couple had purchased the house and their children were in the car and they arrived at the house for the first time. The kids were so excited oh my God, there's a basketball goal. Oh there's a pool, oh my gosh, this is so cool. And we went along in our relationship. I managed that house for many years.
Tim Cafferty:I've been around a bit if you can't tell by the faded and missing hair but I remember the last visit I had with that property owner and for the previous three years the kids had not come down because they had been in high school and they were all lacrosse and football and cheerleading and whatever else and it wasn't on their priority list anymore. And he was coming by himself because his wife no longer enjoyed the ride. And he turned to me and said God, tim, I hate this house. That is like the epitome of a life cycle excitement on the front and at the end it's just a burden. And that's the point where I've said you know, we have a real estate sales division. We'd be happy to help you end this relationship, but it is important to understand those owner goals and making sure you can respond to them appropriately throughout the relationship.
Tim Cafferty:The second thing on owner relations is when did the property owner purchase the property? I think it's really critical right now, as we're in a bit of a downturn in the industry. The owners that I have encountered who have purchased in the last year eyes wide open, they understand it. Maybe the ones that purchased during the pandemic, at the height of pricing, at the height of income, maybe they don't understand that. So, education opportunity Are we ready for number six? I think we are Okay. The final and improvement, I would say you could also add industry knowledge and adaptability, for lack of a better word Making sure you, whoever you are, are indeed the expert. What do you got there?
Tiffany Edwards:I love this one and I think it expands so much bigger than just the vacation rental industry and I think that for so long, so many of our colleagues have gotten sidetracked to just see what are our competitors doing in terms of trends. What is the vacation rental industry doing? We are far surpassed that. So there's a lot of things. I feel like you need to be focused on One what does credit card debt look like? What does the economic downturn or economy look like in general? What does the overall tourism? Are people spending money on cruises, on flights? How is tourism adapting? How are they marketing? There's so much more that you need to be thinking of and I know we'll tap into more of the vacation rental industry specific, but I would implore you to go and really think about the industry of tourism as a whole and how that trickles down and affects the vacation rental industry.
Tim Cafferty:You have to have a deep understanding of the local vacation rental market. What are the competitors doing? We don't want to talk about competitors, but we talk about competitors, right? What are the guest preferences? What are those new things they're looking for out there and what are you responding to? What are the trends and are you engaged? Are you a member of your local association of realtors? Is there an opportunity for you to be involved in the CVB in some way? How about the Chamber of Commerce? All of those things make a difference in your industry knowledge and your ability to respond appropriately to your property owners and their management professionalism.
Tiffany Edwards:Yeah, that's really interesting. I wanted to go even more granular on some of those industry trends for your area as well. We've seen a lot of like cancellation policies changing, so our booking window changing. Are you using software? I mean we use key data all the time for all of our locations. We are in it pretty consistently to see how we compare to our local market. That helps in owner communication, it helps our team make decisions. But how are you utilizing some of those trends for your local market?
Tiffany Edwards:I also have signed up for most of our coopetition newsletters and discounts. So if I know if they're sending out savings I know because I get that email it's very interesting, but it helps us understand a little bit more of what's going on specifically in our area. And then I would also say to investing in staff training more, so really understanding what you need for staff training. So I know that a lot of times we'll allow many of our team members to go somewhere because it's incentive or we want to, you know, provide them almost like a trip, but they're not necessarily getting as much back. So really, what does your staff need? Do they need to go to a software conference? Do they need to be involved in some type of webinar on an industry trend, but really understanding education-wise member. It's part of doing business and those opportunities that VRMA provides, whether through webinars, seminars or conferences.
Tim Cafferty:you need to be there If for nothing else. You certainly look at the agenda and see what topics are going to be covered, but all of the supplier members there you find out what the latest technology is and then probably the biggest benefit that I know you and I have, joyd, is getting together with like-minded people to understand really what's happening and what's going really well for this company and that company that you ought to be able to adapt elsewhere. So, yeah, those affiliations and that reinvestment in the training of your staff critical, critical importance.
Tiffany Edwards:You know, this is very different than I think. A lot of other industries where the networking component is so beneficial to your business and to a growth for each team member have the ability to call someone in a different market to say, I'm dealing with XYZ, how have you dealt with it? And being able to take that back to your team to create those efficiencies Again. It's also an opportunity for you to make sure that you share with your owners. We just got back from this conference. We've learned this. We're going to be implementing these things. We're continuing education. That's again showing your professionalism without having to say that you're a professional.
Tim Cafferty:Absolutely, and we're in the season where VRMA is accepting proposals for education sessions. Maybe you're an expert on something and you can present to VRMA conference. What a great promotion that is for your owners. Not only did I go to the conference, I presented on a topic as a national expert, so don't miss those opportunities.
Tiffany Edwards:Yeah, those are great, so I hope that I really don't think we left anything else on the table. We'll just state that we're king and queen of professionalism here, and these are the factors. We king and queen of professionalism here, and these are the factors.
Tim Cafferty:Some of these are aspirational, but we covered six. To briefly recap number one community responsibility Important. Get out there, be a force. Number two would be operational standards efficiency in that management of the asset for your property owners. The third one we covered was legal and financial compliance Really important. The fourth one was exceptional guest experiences you better be delivering them or you're not going to be around very long. Owner relations and transparency is number five. And finally, industry knowledge and adaptability. Those are the six we got for you. I think these key aspects vacation rental company owner managers can build a strong reputation, foster that trust with both guests and owners and achieve long-term success in the competitive vacation rental market that we have all embraced as our career. So I hope this helped.
Tiffany Edwards:Yeah, and if you have any other suggestions for some reason we had missed some don't hesitate to reach out to us and maybe we can bring up some other great keys of professionalism out.
Tim Cafferty:All right, so that's it for this edition of the Vacation Rental Key with TNT. We hope you enjoyed what we put down and you picked up some spots of improvement that maybe you can focus on Until next time. We got something really good brewing for you. We won't mention it right now, but come back and we'll give it to you. We always do.
Tiffany Edwards:Can't wait Tim so long everybody.
Tim Cafferty:Bye, we'll see you next time.